Cournot on the Communication of Markets: The Principle of Compensation of Demands and the Effects of International Trade on Social Income
分析古诺的著作，发现他区分名义收入与实际收入，提出需求补偿原理，并论证单边取消贸易限制可能导致实际收入下降，特定情况下保护性关税是合理的。
Abstract Cournot's views on the effects of international trade on social income have received little attention. Drawing upon a comprehensive analysis of Cournot's writings, this article shows that Cournot distinguished between variations in nominal income and variations in real income. He introduced the principle of compensation of demands: if the price of a commodity changes, the value of the total demand for other commodities remains unchanged. He relied on this principle to demonstrate that a unilateral removal of trade restrictions can cause real income to fall. Under specific circumstances, protective tariffs may be warranted. Cournot thus endorsed the infant-industry argument without being a die-hard protectionist. The article discusses the arguments of his critics and concludes that many commentators have misrepresented his thinking.